MIRA
INFORM REPORT
|
Report Date : |
01.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
MPIL STEEL STRUCTURES LIMITED (w.e.f.
17.11.2011) |
|
|
|
|
Formerly Known
As : |
MULTICOLOR PROJECTS ( |
|
|
|
|
Registered
Office : |
Trade Star, ‘B’ Wing, 6th Floor, J. B. Nagar, Junction of Kondivita
and |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
23.04.2001 |
|
|
|
|
Com. Reg. No.: |
11-131726 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.75.439
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45208MH2001PLC131726 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM16149A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCM6070B |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is a turnkey solution provider for metal building
product and Integrated structural steel fabrication. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 510000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
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|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a successor of Proprietory concern established in the year
1995 and later in the year 2001 it got converted into private limited. It is having satisfactory track. Trade relations are reported to be
fair. Business is active. Payments are reported to be usually correct and as
per commitments. The company can be considered for business dealing at usual trade
terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed
legislative work. India's medium-term growth outlook is positive due to a young
population and corresponding low dependency ratio, healthy savings and
investment rates, and increasing integration into the global economy. India has
many long-term challenges that it has not yet fully addressed, including
widespread poverty, inadequate physical and social infrastructure, limited
non-agricultural employment opportunities, scarce access to quality basic and
higher education, and accommodating rural-to-urban migration.
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
BBB- |
|
Rating Explanation |
Having moderate degree of safety regarding timely
servicing of financial obligation, it carry moderate credit risk. |
|
Date |
February, 2011 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED BY
|
Name : |
Mr. Alok Gupta |
|
Designation : |
Director |
|
Contact No.: |
91-982043873 |
|
Date : |
29.09.2012 |
LOCATIONS
|
Registered/ Corporate Office : |
Trade Star, ‘B’ Wing, 6th Floor, J. B. Nagar, Junction of Kondivita
and Sir M V Road, Andheri (East), Mumbai – 400059, Maharashtra, India |
|
Tel. No.: |
91-22-42607000 |
|
Mobile No.: |
91-982043873 (Mr. Alok Gupta) |
|
Fax No.: |
91-22-42607070 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branch Office : |
Located at: · Delhi · Hyderabad · Vadodara |
DIRECTORS
(AS ON 30.09.2011)
|
Name : |
Mr. Ashwani Phoolchand Gupta |
|
Designation : |
Chairman and Managing Director |
|
Address : |
801, Rehana
Heights, Chappel Lane, Near Akbarallys, Santacruz – West, Mumbai – 400054,
Maharashtra, India |
|
Date of Birth/Age : |
02.06.1955 |
|
Date of Appointment : |
23.04.2001 |
|
DIN No.: |
00872193 |
|
|
|
|
Name : |
Mr. Alok Ashwani Gupta |
|
Designation : |
Executive Director |
|
Address : |
801, Rehana
Heights, Chappel Lane, Near Akbarallys, Santacruz – West, Mumbai – 400054,
Maharashtra, India |
|
Date of Birth/Age : |
24.05.1980 |
|
Date of Appointment : |
23.04.2001 |
|
DIN No.: |
00872461 |
|
|
|
|
Name : |
Ms. Priyanka Gupta |
|
Designation : |
Executive Director |
|
Address : |
801, Rehana
Heights, Chappel Lane, Near Akbarallys, Santacruz – West, Mumbai – 400054,
Maharashtra, India |
|
Date of Birth/Age : |
19.10.1984 |
|
Date of Appointment : |
07.07.2005 |
|
DIN No.: |
02422462 |
|
|
|
|
Name : |
Ms. Darshana Ashwani Gupta |
|
Designation : |
Director |
|
Address : |
801, Rehana Heights,
Chappel Lane, Near Akbarallys, Santacruz – West, Mumbai – 400054,
Maharashtra, India |
|
Date of Birth/Age : |
30.06.1961 |
|
Date of Appointment : |
23.04.2001 |
|
DIN No.: |
00872158 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2011)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Ashok Kumar Phoolchand Gupta |
|
1100 |
|
Vinay Kumar Phoolchand Gupta |
|
1100 |
|
Rajesh Phoolchand Gupta |
|
1100 |
|
Ashwani Phoolchand Gupta |
|
495000 |
|
Darshana Ashwani Gupta |
|
495000 |
|
Alok Ashwani Gupta |
|
380600 |
|
Vikas Anil Gupta |
|
1100 |
|
Shri Sukta Investment and Finance Limited, India |
|
1628000 |
|
AVP Finance Limited, India |
|
33000 |
|
Twobro Investment and Finance Limited, India |
|
44000 |
|
Twobro Investment and Finance Limited, India |
|
1150000 |
|
Dayal Finsec Limited, India |
|
935000 |
|
Dayal Finsec Limited, India |
|
1650000 |
|
Aadidev Investment and Finance Limited, India |
|
165000 |
|
Abhey Holdings Limited, India |
|
44000 |
|
Abhey Holdings Limited, India |
|
550000 |
|
PTCL Infrastructure Limited, India |
|
2728000 |
|
Priyanka Ashwani Gupta |
|
141900 |
|
|
|
|
|
Total |
|
10443900 |
(AS ON 30.09.2011)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
80.46 |
|
Directors or relatives of directors |
|
19.54 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is a turnkey solution provider for metal building
product and Integrated structural steel fabrication. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
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Bankers : |
· State Bank of Mysore Andheri-East Branch, 2nd Floor, P. B. No.9445,
Dharmakshetra, Mahakali Caves Road, Andheri (East), Mumbai – 400093,
Maharashtra, India · Yes Bank Limited 9th Floor, Nehru Centre, Discovery of India, Dr. Annie
Besant Road, Worli, Mumbai – 400018, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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|
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|
Auditors : |
|
|
Name : |
M. B. Ahuja and Company Chartered Accountant |
|
Address : |
Office No. 35, 4th
Floor, Dheeraj Heritage, S. V. Road, Santacruz - West, Mumbai – 400054,
Maharashtra, India |
|
Tel No.: |
91-22-26613130/
26600899 |
|
PAN No.: |
AAAPA7005M |
CAPITAL STRUCTURE
(AFTER -
30.09.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12500000 |
Equity Shares |
Rs.10/- each |
Rs.125.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9213900 |
Equity Shares |
Rs.10/- each |
Rs.92.139
Millions |
|
|
|
|
|
(AS ON 30.09.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12500000 |
Equity Shares |
Rs.10/- each |
Rs.125.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7093900 |
Equity Shares |
Rs.10/- each |
Rs.70.939
Millions |
|
3350000 |
Preference Shares |
Rs.2/- each |
Rs.6.700
Millions |
|
|
|
|
|
|
|
Total |
|
Rs.77.639 Millions |
(AS ON 31.03.2011)
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3350000 |
Equity Shares Partly Paid up |
Rs.10/- each |
Rs.33.500 Millions |
|
9150000 |
Equity Shares Fully Paid up |
Rs.10/- each |
Rs.91.500 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.125.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3350000 |
Equity Shares Partly Paid up |
Rs.2/- each |
Rs.6.700 Millions |
|
6873900 |
Equity Shares Fully Paid up |
Rs.10/- each |
Rs.68.739
Millions |
|
|
|
|
|
|
|
Total |
|
Rs.75.439 Millions |
NOTE:
· For sake of convenience and to overcome the quary arises at prescrutiny level, Authorised Share Capital is divided.
·
To overcome the quaries arises at the time of
prescrutiny, Authorised Share Capital is divided
·
For sake of convenience and to overcome the
quary arises at prescrutiny level, Authorised Share Capital is divided.
· To overcome the quaries arises at the time of prescrutiny, Authorised Share Capital is divided
·
33,50,000 Partly Paid Up Equity Shares with Paid
Up Value of Rs. 2/- per Share
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
75.439 |
72.089 |
5.749 |
|
|
2] Share Application Money |
1.650 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
50.380 |
23.223 |
64.395 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
127.469 |
95.312 |
70.144 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
178.970 |
24.477 |
54.734 |
|
|
2] Unsecured Loans |
0.130 |
0.130 |
1.829 |
|
|
TOTAL BORROWING |
179.100 |
24.607 |
56.563 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
306.569 |
119.919 |
126.707 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
159.899 |
81.762 |
80.435 |
|
|
Capital work-in-progress |
1.021 |
0.245 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
110.765
|
96.495 |
27.529 |
|
|
Sundry Debtors |
382.858
|
80.871 |
40.649 |
|
|
Cash & Bank Balances |
13.958
|
20.194 |
4.325 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
14.347
|
10.942 |
12.187 |
|
Total
Current Assets |
521.928
|
208.502 |
84.690 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
357.927
|
159.975 |
33.562 |
|
|
Other Current Liabilities |
15.564
|
10.137 |
3.235 |
|
|
Provisions |
3.208
|
1.047 |
1.638 |
|
Total
Current Liabilities |
376.699
|
171.159 |
38.435 |
|
|
Net Current Assets |
145.229
|
37.343 |
46.255 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.420 |
0.569 |
0.017 |
|
|
|
|
|
|
|
|
TOTAL |
306.569 |
119.919 |
126.707 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
1040.202 |
520.625 |
198.391 |
|
|
|
|
Other Income |
1.798 |
0.386 |
0.338 |
|
|
|
|
TOTAL (A) |
1042.000 |
521.011 |
198.729 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
Consumption materials changes inventories |
857.305 |
410.710 |
|
|
|
|
|
Manufacturing service costs |
55.315 |
33.085 |
173.232 |
|
|
|
|
Employee related expenses |
19.263 |
11.611 |
|
|
|
|
|
Administrative, Selling and Other Expenses |
25.477 |
17.341 |
|
|
|
|
|
TOTAL (B) |
957.360 |
472.747 |
173.232 |
|
|
|
|
|
|
|
||
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
84.640 |
48.264 |
25.497 |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES (D) |
22.398 |
10.124 |
8.233 |
||
|
|
|
|
|
|
||
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
62.242 |
38.140 |
17.264 |
||
|
|
|
|
|
|
||
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
17.128 |
12.147 |
13.588 |
||
|
|
|
|
|
|
||
|
|
PROFIT BEFORE
TAX (E-F) (G) |
45.114 |
25.993 |
3.676 |
||
|
|
|
|
|
|
||
|
Less |
TAX (H) |
14.441 |
8.960 |
1.247 |
||
|
|
|
|
|
|
||
|
|
PROFIT AFTER TAX
(G-H) (I) |
30.673 |
17.033 |
2.429 |
||
|
|
|
|
|
|
||
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
21.433 |
4.915 |
NA |
||
|
|
|
|
|
|
||
|
Less |
APPROPRIATIONS |
|
|
|
||
|
|
|
Proposed Dividend |
1.509 |
0.185 |
NA |
|
|
|
|
Tax on Proposed Dividend |
0.250 |
0.030 |
NA |
|
|
|
|
Transfer to General Reserve |
2.257 |
0.300 |
NA |
|
|
|
BALANCE CARRIED
TO THE B/S |
48.090 |
21.433 |
NA |
||
|
|
|
|
|
|
||
|
|
Earnings Per
Share (Rs.) |
5.00 |
3.19 |
-- |
||
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
2.94
|
3.27 |
1.22 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.34
|
4.99 |
1.85 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.62
|
8.95 |
15.74 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.35
|
0.27 |
0.05 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.36
|
2.05 |
1.35 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.39
|
1.22 |
2.20 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
(Rs. In Millions) |
||
|
|
|
|
|
|
Sundry Creditors |
|
|
|
|
-Creditors due small micro enterprises |
0.000 |
0.000 |
0.000 |
|
-Creditors due others |
357.927
|
159.975 |
33.562 |
|
|
|
|
|
|
Total |
357.927
|
159.975 |
33.562 |
|
Sr. No. |
Check List by Info Agents |
Available in Report (Yes
/ No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
----- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm / promoter
involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if
available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
NOTE:
The Registered office of the company has been
shifted from, 101, VTM Building, Andheri Kurla Road, Saki Naka, Andheri, Mumbai
– 400072, Maharashtra, India, to the present address w.e.f. 18.10.2010.
FORM 8:
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
80024519 |
|
Corporate
identity number of the company |
U45208MH2001PLC131726 |
|
Name of the
company |
MPIL STEEL
STRUCTURES LIMITED |
|
Address of the
registered office or of the principal place of business in |
Trade Star, 'B'
Wing, 6th Floor, J. B. Nagar Junction of Kondivita and Sir M.V. Road, Andheri
(East), Mumbai – 400059, Maharashtra, India |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
State Bank of
Mysore Andheri - East Branch,
P. B. No. 9445, Dharmakshetra, Mahakali Caves Road, Andheri (East), Mumbai –
400093, Maharashtra, India |
|
Nature of
description of the instrument creating or modifying the charge |
1. Letter of Arrangement (SME - 1) 2. Memorandum of recording extension of
Mortgage by deposit of title deeds covering enhanced limits and / or creation
of equitable mortgage on additional properties for existing limits and
enhanced limits and additional facilities (SME - 7) (Both documents
constitute a single modification) |
|
Date of
instrument Creating the charge |
14/07/2012 |
|
Amount secured by
the charge |
Rs. 436.250 Millions |
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of Interest Charges on fresh
Bank Guarantee Limits are 1.75% p.a. Terms of
Repayment Fresh Bank
Guarantee Limits are subject to review from time to time. Margin Margin @ 15% on
Fresh Bank Guarantee Limits. Extent and
Operation of the charge The charge is to
operate as security by way of First Charge for the due repayments of Total
Credit Limits of Rs. 400.250 Millions granted to the Company (i.e. MPIL Steel
Structures Limited) and Rs.36.000 Millions granted to PTCL Infrastructure
Limited together with interests, costs, charges, commissions, expenses and
all other sum / moneys due / payable by the companies to the Bank in terms of
the sanction of the said limits. Others All other terms
and conditions are as per the sanction letter and loan documents executed by
the company with the Bank from time to time. |
|
Short particulars
of the property charged |
Extension of
Equitable mortgage by way of 1st Charge of Land and building situated at Plot
No. J-86, Tarapur Ind. Area, Palghar, Thane Dist., Maharashtra and Pledge
Charges over Plant and Machinery. Extension of
Equitable Mortgage over Office Premises at 6th Floor, B Wing, Trade Star
Building, Andheri Kurla Road, J. B. Nagar, Andheri - East, Mumbai - 400059. |
|
Particulars of
the present modification |
Fresh Bank
Guarantee Limits of Rs.30.100 Millions were granted to the company in
addition to the existing Limits of Rs.370.150 Millions granted to the company
(i.e. MPIL Steel Structures Limited) and Rs.36.000 Millions granted to PTCL
Infrastructure Limited against extension of EQM of Land and building situated
at Plot No. J-86, Tarapur Ind. Area, Palghar, Thane and Office Premises at
6th Floor, B Wing, Trade Star Building, Andheri Kurla Road, J. B. Nagar,
Andheri - East, Mumbai. |
FIXED ASSETS:
· Land
· Building
· Plant and Machinery
· Office Equipment
· Computer
· Furniture and Fixture
· Vehicles
WEBSITE DETAILS:
COMPANY PROFILE:
Subject was established in 2001, to diversify into steel works, in
addition to strengthening its strong hold in the field of iron ore mining and
logistics. Under the leadership of Mr. Ashwani Gupta (Chairman and Managing
Director), subject has grown to become the flagship company of the MPIL group.
It has a production capacity of 50,000 tons of structural steel, an engineering
team of 850 members, offices in 5 cities and a large number of satisfied
customers across India and the African Subcontinent.
Subject is a turnkey solution provider for metal building products and
integrated structural steel fabrication. Over the last decade, subject has
emerged as a leading manufacturer of complex steel structures, pre-engineered
buildings and fabricated solar panel mounting structures.
Subject has achieved accolades for the successful design, manufacture and
execution of steel works for some of India's most prestigious infrastructure
projects pertaining to airports, high-rise buildings, solar farms as well as
heavy industrial plants.
Subject now provide the backbone to the Mumbai International Airport, the
largest blast furnaces of the JSW Steel Iron Making Zone in Karnataka, the 63
storey Marathon Futurex Tower in Mumbai and the 100MW solar farm of Surel Solar
in Gujarat. Subject is proud of its associations with the JSW Group, JSPL
Group, L&T Group, Zuari Italcementi Group and the Aditya Birla Group.
Subject owns state-of-the-art steel LEED certified fabrication plants in
Tarapur, Maharashtra and Sultanpur, Karnataka. Subject is now a multi-product
company manufacturing over 100 custom-design fabricated structural steel
products and cold rolled formed sections.
NEWS:
MPIL Steel Structures
Limited has won the ‘Aspirants Award’ (2012) by Frost and Sullivan
Based on the assessments conducted at our factory site and subsequently whetted by the jury of Green Manufacturing Excellence Awards 2012, our site at "Tarapur" has been awarded "Aspirants Award - Medium Business" by Frost and Sullivan.
The awards function was held at Mumbai in the ITC Grand Central, on 27th April.
The jury was impressed with our plant, our efficient use of raw materials, our
own solar captive power plant as well as the dynamism of our team.
MPIL receives a
system integrator rating of SP 2B form ICRA
26tH March ,2012,Mumbai. MPIL Steel Structures is pleased to receive a System Integrator rating of “SP 2B” from ICRA. It emphasizes MSS’ strong technical background and financial strength in order to provide our clients with the most appropriate rooftop solar solutions at an affordable price. As a channel partner, MSS will now be able to pass the benefit of 30% capital subsidy to its clients and hence making solar more affordable.
MPIL Steel Structures
Limited has won the Best SME in Manufacturing Award and Best Green SME Award
(2011)
Best SME in Manufacturing Award and Best Green SME Award (2011) on January 31, 2012 at the Business Today - Yes Bank SME Annual Awards held in New Delhi.
The Business Today-YES BANK Best SME Survey and Awards felicitate
growth-focused, innovative Small and Medium Enterprises, who are leaders in
their respective business areas. The objective of this initiative is to bring
together, recognize and reward achievers, innovators and enablers, and further
promote an entrepreneurial spirit. YES BANK, India’s fourth largest private
sector bank and Business Today, India’s No. 1 business magazine jointly
organized the third edition of these awards. This year, more than 2.8 Lakhs SMEs
participated in the award survey.
We are proud and encouraged by this national acclaim and thank you all for your
support and wishes
MPIL bags 2
prestigious projects in Mumbai – Sahara Star and Trump Towers
These projects are set to change the skylines of Mumbai and MPIL team is geared to execute a quality product.
MPIL manufactures
Solar mounting Structures
MPIL provides solar mounting structures for 4 different
solar farms across India i.e. - Kutch, Rourkela, Orissa and Rajasthan.
At MPIL we manufacture solar mounting structures for that could mount 160
panels at once. These pre-engineered structures are fast to make, economical
and can easily withstand 25 to 30 years without any maintenance.
Creating Towering
structures for Marathon Futurex project.
Marathon Futurex
Marathon Futurex is a landmark project, first in the genre of commercial high-rises in our Metropolitan. MPIL is proud to be associated with this project for the supply and fabrication of floor beams and structural steel plate sections for composite slabs for speedy and cost-effective construction of the building.
Salient features of
the building
Marathon Futurex is a pioneer in its exploration of alternative post-modern design and use of steel as a construction technology. It resembles much of MPIL's raison d'ętre, in that, it is bold in its outlook, complex in its design, efficient in its costing and acute in its construction methodology.
MPIL adds additional
capacity for heavy structure fabrication to its Tarapur Plant.
MPIL expands its steel structure fabrication capacity by commissioning brand new factory building in Tarapur with all new machinery for plate cutting, assembling and welding.
MPIL STEEL SETTING UP
RS 170-CR PLANT IN K'TAKA
K. Rajani Kanth/ Chennai/
Hyderabad December, 29 2011
MPIL Steel Structures Limited, a Mumbai-based turnkey solution provider for metal building products and integrated structural steel fabrication, is setting up a steel fabrication plant in Bellary district of Karnataka with an incremental investment of around Rs.1700.000 Millions to be made over two years.
The facility, coming up on 21 acre, would have an initial annual capacity of 25,000 tonne, which would be scaled up to 100,000 tonne in the next two years. The plant would start production from April 2012, Priyanka Gupta, executive director of MPIL Steel Structures, told Business Standard.
“We have already made an initial investment of Rs.750.000 Millions to kick start the work on the project. The entire project will be funded with 40 per cent promoters’ equity and the remaining through traditional debt from the State Bank Group,” she said.
According to Gupta, the company intends to leverage the freight advantage that Bellary (situated on the Karnataka border adjoining Andhra Pradesh) offers, besides the abundance of hot-rolled steel in the region.
“The new plant will be making only heavy structural steel and will be catering to the soaring demand by the infrastructure sector, including airports and high-rise buildings, in both the states,” she said, adding the new plant was expected to generate revenues of Rs 2500.000 Millions in the first year and become a Rs 5000.000 Millions entity by itself once it crosses the 100,000 tonne a year capacity.
The over Rs 2000.000 Millions company, which currently has an annual production capacity of 60,000 tonne of structural steel at its Tarapur plant in Maharashtra, is now focusing on exploring steel as a solution for supporting the installation of solar farms and other projects pertaining to renewable energy.
Towards this, the company has recently installed solar panels on its factory rooftop, which optimises captive generation of electricity from solar power and seamlessly integrates with the internal power supply of the factory.
The SMART (Solar Mounted Advanced Renewable Technology) building system, for which Hyderabad-based SuRe Energy Systems is the EPC partner, involves mounting of solar panels on the roof of any pre-engineered building. It can be pre-installed or retrofit. Installation of the roof-mounted solar system costs Rs 18,000 per square metre.
With a separate production line of 1,200 tonne a month for the SMART building systems already in place, Gupta said, the company would now commercially offer this solution in the entire southern belt.
“We are looking at making 18 full-fledged installations in 12 months from now,” she said, adding the solar division, being set up independently, was expected to generate Rs 600.000 Millions in revenues in the next one year.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals have
been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.70 |
|
|
1 |
Rs.85.71 |
|
Euro |
1 |
Rs.68.15 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.